Goldman Sachs to Cut About 30% of Investment Banking Jobs in Asia
Goldman Sachs is going to cut about 30% of their Asia investment banking jobs in Asia beside Japan. It will lower the number of bankers who are working on mergers and acquisitions. equity and debt capital markets.
The job cuts are most likely to occur around Hong Kong, Singapore and China. Goldman has highlighted in July that it will go on a cost cutting drive to save $700 million a year due to decline in revenue.
News Source: The Wealth Insider
About Goldman Sachs
The Goldman Sachs Group, Inc. (NYSE:GS) is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. The business activities are reported in the following segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management – of which the largest revenue came from Institutional Client Services segment. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
- Origin : Manhattan, New York, US
- Assets : $ 861.40 billion
- Revenue : $ 33.82 billion
- Employees : 36,900
Official Website: www.goldmansachs.com
News & Media: Press Release
Updated on 8th August 2016